It’s going to be the largest cannabis grower in Nevada…
Capable of growing 140,000 pounds of marijuana annually!
The pot stock IPO starts trading today – and it’s one to watch.
The company is called Flower One Holdings.
The state of Nevada just issued the recreational marijuana production and cultivation licenses to the company.
Flower One will be a major player, with a 400,000 square foot greenhouse and a 55,000 square foot production facility. It’s the largest commercial scale greenhouse in Nevada.
Its production capacity could reach 63,500 kilograms in 2019.
Plus, the company just announced a $27 million acquisition.
Flower One will buy a fully operational 25,000 square foot cannabis growing facility in North Las Vegas. The site has nine grow rooms cultivating 4,500 plants. It’s all designed to cash in on Nevada’s booming market.
Nevada’s first year of cannabis sales topped $530 million – 60% ahead of the state’s estimates.
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Flower One raised $57 million in a private placement last month at C$2. And I was able to buy a small position in this pre-IPO private placement.
Today, shares began trading on the Canadian Stock Exchange – or CSE – with the ticker symbol “FONE”. Shares of the pot stock IPO opened the session at C$1.90. I’d expect shares to begin trading in the U.S. on the OTC within the next week or so.
Is it a good investment?
Flower One’s market cap is around C$327 million.
That means the stock market is valuing this new IPO at just $5,800 per kilogram of cannabis production.
That makes Flower One shares about 72% LESS EXPENSIVE than a major player like Canopy Growth (NYSE: CGC).
Frankly, that’s why these smaller cannabis IPOs can be a great place to invest.
Just check out Green Thumb Industries (OTC: GTBIF), an Illinois cannabis company that recent went public. And that stock has doubled since it the pot stock IPO in June.
You could be looking at a similar move for Flower One in its pot stock IPO.
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Full Disclosure: Ian Wyatt owns shares of Flower One that were purchased in a recent private placement.